pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7

Not really. If anyone understands that a growing market can't be manipulated down in perpetuity, it's Pirate. The objective is not to keep forcing prices lower, only to stabilize. The previous weeks were punctuated by an early rise, then leveling off for the duration. That kind of stable growth is critical for businesses to be comfortable with using Bitcoin as a primary financial service.

Again, there is no need to control it - only influence. This is a stabilization effort by a heavily invested party attempting to maintain the quality of the investment. What's happening is similar to gold, only gold is viewed as a limiting factor by financial industry participants whereas Bitcoin is viewed as a liberating factor by the equivalents.

JPM is the traditional financial giant, viewing gold as a mere trading instrument that limits its flexibility. Pirate is a Bitcoin financial giant, seeing the system as a vehicle that enhances economic potential.

This requires a perspective shift - the old paradigms do not properly apply here.

The real question you should ask is, who was the pumper driving the price up, causing the panic buying?

(wasn't me.)

That was him.. then someone got smart on him and sold into him early. Which happens to corelate with him 'stating' it was him several minutes after the fact.

/tinfoil hat

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GAIt is being worked on by smart people. -DamienBlack

pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7

Not really. If anyone understands that a growing market can't be manipulated down in perpetuity, it's Pirate. The objective is not to keep forcing prices lower, only to stabilize. The previous weeks were punctuated by an early rise, then leveling off for the duration. That kind of stable growth is critical for businesses to be comfortable with using Bitcoin as a primary financial service.

Again, there is no need to control it - only influence. This is a stabilization effort by a heavily invested party attempting to maintain the quality of the investment. What's happening is similar to gold, only gold is viewed as a limiting factor by financial industry participants whereas Bitcoin is viewed as a liberating factor by the equivalents.

JPM is the traditional financial giant, viewing gold as a mere trading instrument that limits its flexibility. Pirate is a Bitcoin financial giant, seeing the system as a vehicle that enhances economic potential.

This requires a perspective shift - the old paradigms do not properly apply here.

Meh, when push comes to shove is Pirate (or his heavily invested party ) really going to take money out of their pocket to keep the price "stable"?

jump to 9.50, back down to 7.50, and now 8.50 ya really good job stabilizing the market.

I think this does show Pirate is getting unnerved by this growth in the BTC/$ value. I expect him to decrease interest rates in his HYIP if prices go above $9 again and stay there at the least. In the worse case he disappears with everyone principles and people start telling you "I told you so".

pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7

Not really. If anyone understands that a growing market can't be manipulated down in perpetuity, it's Pirate. The objective is not to keep forcing prices lower, only to stabilize. The previous weeks were punctuated by an early rise, then leveling off for the duration. That kind of stable growth is critical for businesses to be comfortable with using Bitcoin as a primary financial service.

Again, there is no need to control it - only influence. This is a stabilization effort by a heavily invested party attempting to maintain the quality of the investment. What's happening is similar to gold, only gold is viewed as a limiting factor by financial industry participants whereas Bitcoin is viewed as a liberating factor by the equivalents.

JPM is the traditional financial giant, viewing gold as a mere trading instrument that limits its flexibility. Pirate is a Bitcoin financial giant, seeing the system as a vehicle that enhances economic potential.

This requires a perspective shift - the old paradigms do not properly apply here.

Meh, when push comes to shove is Pirate (or his heavily invested party ) really going to take money out of their pocket to keep the price "stable"?

jump to 9.50, back down to 7.50, and now 8.50 ya really good job stabilizing the market.

Ah, but the real question you need to ask is did it stop a larger price increase from happening? Without intervention, whose to say that the price wouldn't have jumped far past $9.5. With the steady climb today, it looks as if it's stable to me. Stable does not mean stagnant always.

pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7

Not really. If anyone understands that a growing market can't be manipulated down in perpetuity, it's Pirate. The objective is not to keep forcing prices lower, only to stabilize. The previous weeks were punctuated by an early rise, then leveling off for the duration. That kind of stable growth is critical for businesses to be comfortable with using Bitcoin as a primary financial service.

Again, there is no need to control it - only influence. This is a stabilization effort by a heavily invested party attempting to maintain the quality of the investment. What's happening is similar to gold, only gold is viewed as a limiting factor by financial industry participants whereas Bitcoin is viewed as a liberating factor by the equivalents.

JPM is the traditional financial giant, viewing gold as a mere trading instrument that limits its flexibility. Pirate is a Bitcoin financial giant, seeing the system as a vehicle that enhances economic potential.

This requires a perspective shift - the old paradigms do not properly apply here.

Meh, when push comes to shove is Pirate (or his heavily invested party ) really going to take money out of their pocket to keep the price "stable"?

jump to 9.50, back down to 7.50, and now 8.50 ya really good job stabilizing the market.

Ah, but the real question you need to ask is did it stop a larger price increase from happening? Without intervention, whose to say that the price wouldn't have jumped far past $9.5. With the steady climb today, it looks as if it's stable to me. Stable does not mean stagnant always.

I think he has scared off a lot of new money coming into bitcoin for a few days with his show of price manipulation.

Meh, when push comes to shove is Pirate (or his heavily invested party ) really going to take money out of their pocket to keep the price "stable"?

In order to maintain the viability of the investment, yes. It's part of the cost of doing business. There is still a long way to go before capital flows into Bitcoin can no longer make that profitable, or the system becomes stable on its own.

I think this does show Pirate is getting unnerved by this growth in the BTC/$ value. I expect him to decrease interest rates in his HYIP if prices go above $9 again and stay there at the least. In the worse case he disappears with everyone principles and people start telling you "I told you so".

I think he has scared off a lot of new money coming into bitcoin for a few days with his show of price manipulation.

Good! Would you want another grueling six month decline after an unsustainable bubble formed on nothing but vapor? Do you think any business would touch Bitcoin at that point, even those that are enthusiastic about it? Long-term investor exhaustion is much more dangerous than short-term trader tantrums. Lasting wealth comes from the former.

I think he has scared off a lot of new money coming into bitcoin for a few days with his show of price manipulation.

Good! Would you want another grueling six month decline after an unsustainable bubble formed on nothing but vapor? Do you think any business would touch Bitcoin at that point, even those that are enthusiastic about it? Long-term investor exhaustion is much more dangerous than short-term trader tantrums. Lasting wealth comes from the former.

I think I would have rather settled with the new money coming into bitcoin. There was no vapour this time just growth and the market is more mature. I think lots of other larger actors would have started dumping post $10. This was just Pirate trying to protect his HYIP. Yes I would prefer steady growth but not at the cost of market manipulation.

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I don't think Pirate himself is concerned so much with BTC as he is with USD. By the way, he has a lot of that and his sum is increasing. BTC can't pay his bills or buy him awesome shit, but USD can. Pay some attention to the bid/ask walls in relation to what Pirate said about the danger of the BTC price increasing too quickly. Think about the impact that a rapid price increase would have on the USD he's holding, and think of where he got that USD from, etc. Also consider that Pirate needs USD to purchase BTC for interest payments, and check out the interesting "support" walls after a rally. Like Pirate said, when there's a rally, people panic buy but new buy orders don't immediately rush in, but rather people eat away at the outstanding supply. When there's a crash, people panic sell and buy orders are removed.

The relative stability we've seen is no coincidence. We're riding a cycle.